This study conducted an economic valuation of benefit flows associated with plant genetic resources conserved by the Greek Gene Bank (GGB), which are likely to play an important role in food security issues. Altered growing conditions in agriculture linked to climate change, as well as the need to increase productivity to meet growing needs for food, are two major challenges that the gene pool of the GGB can address. Applying the genetic resources of the GGB to breed new varieties with improved characteristics opens up new prospects in insuring agricultural production against adverse shocks. Insurance values as well as values relating to applications of genetic material to increase farm yields, known as productivity values, are the two types of services evaluated by this study. Scenarios were developed to evaluate insurance and productivity values offered by the GGB. Insurance values represented by the genetic collection of the GGB, found to be significantly higher than productivity values, range from 55 to 995 million Euros depending on the assumptions regarding future risks for agriculture. Since insurance values offered by the GGB are decidedly higher than its costs, the study indicates that maintaining and further developing the GGB is an economically justified strategy.
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